Rio Tinto eyes EV future in $420m copper play

Rio Tinto will invest an extra $US302 million ($421 million) to develop its Resolution copper project in the US state of Arizona, as it looks to expands output to meet the lucrative market for new energy vehicles.

The funds would be used to bankroll additional drilling, ore-body studies, infrastructure improvements and permitting activities, with the miner aiming to advance the project to the final stage of the permitting phase, it said in a statement to the Australian Stock Exchange.